ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

In the result, all the above 6 appeals filed by the Revenue are dismissed and

Bench: Shri R. K. Panda & Ms Astha Chandra

long term capital gain and added the same in respondent's income under Section 68 of the Act. While allowing the appeal filed by respondent, the CIT[A] deleted the addition made under Section 68 of the Act. The CIT[A] has observed that the A.O. himself has stated that SEBI had conducted independent enquiry in the case

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

u/s 68 on account of long term capital gain being the sale of shares of M/s Yamini Investment Company Limited declared by the appellant by relying on information received from the DDIT/ADIT(Inv.), 3(3), New Delhi through Insight Portal, which are not relating to the appellant, as name of the appellant not mentioned and appellant is not party

ASHOK VIJAYKUMAR KOTECHA,JALGAON vs. ACIT, CIRCLE 1, JALGAON, JALGAON

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2011-12

long term capital gain claimed as exempt by the assessee u/s 10(38) of the Act as bogus. The Assessing Officer further made addition of Rs.9,15,732/- u/s 69C of the Act being the commission paid in cash for arranging such accommodation entries which has not been recorded in the books of account. Thus, the Assessing Officer determined

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ASHISH OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. ATUL OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD -1, JALNA, JALNA vs. PRAMILA OMPRAKASH MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

INCOME TAX OFFICER, WARD-1, JALNA, JALNA vs. OMPRAKASH ASARAM MANTRI, JALNA

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri R. K. Panda & Ms Astha Chandra

Long Term Capital Gains on Sale of Share is credited to Capital Account, the Details are as under: Α.Υ. 2011-12 LTCG of Rs.1,44,35,357/- Α.Υ. 2012-13 LTCG of Rs.93,82,427/- Please give the details of Capital Gains Earned by him i.e. Name of Asset, Date of Purchase, Cost of Purchase, Date of Sale

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

gains from sale of shares of the penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

gains from sale of shares of the penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

gains from sale of shares of the penny stock company namely, PFLIL and made addition of Rs.7,68,24,174/- to the total income of the assessee. The Assessing Officer also made the consequential addition on account of commission paid for acquiring the accommodation entries of Rs.23,04,725/- u/s 69C being commission paid @ 3% of such bogus LTCG

POONAWALLA SHARES & SECURITIES PVT.LTD,PUNE vs. ASSISTANT COMMISSIONER OF WEALTH-TAX, CIRCLE-4, PUNE

Appeal is partly allowed in above terms

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपीलसं. / Ita No.380/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Poonawalla Shares & Securities The Assistant Pvt. Ltd., Vs Commissioner Of Income 16-B,/1, Sarosh Bhavan, Tax, Dr.Ambedkar Road, Circle-4, Pune. Pune – 411001 Pan: Aaacp 6087 H Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 08/07/2022 Date Of Pronouncement 29/07/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’S Appeal For Assessment Year 2016-17 Is Directed Against The Commissioner Of Income Tax(Appeals)-3, Pune’S Order Dated 11.12.2019 Passed In Case No.Pn/Cit(A)-3/Cir 4/193/2018-19/428, In Proceedings U/S.143(3) Of The Income Tax Act, 1961 [In Short “The Act”].

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.]” 5.5 If the provisions of law contained under section 14A and diction of section 14A is perused

GANPAT MUKUNDRAO MURKUTE,,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

147 of the Act vide order dt.23.12.2011 and the total income was determined at Rs.2,35,54,420/-. Aggrieved by the order of AO, assessee carried the matter before Ld.CIT(A), who vide order dt.03.09.2013 (in appeal No.PN/CIT(A)-II/ACIT Cir-4/299/2011- 12) dismissed the appeal of the assessee. Aggrieved by the order of Ld.CIT(A), assessee has raised

SH. MAHENDRA R. VITKAR,PUNE vs. ITO, WARD 10(2),, PUNE

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

147 of the Act vide order dt.23.12.2011 and the total income was determined at Rs.2,35,54,420/-. Aggrieved by the order of AO, assessee carried the matter before Ld.CIT(A), who vide order dt.03.09.2013 (in appeal No.PN/CIT(A)-II/ACIT Cir-4/299/2011- 12) dismissed the appeal of the assessee. Aggrieved by the order of Ld.CIT(A), assessee has raised

ITO WARD 9(4),, PUNE vs. SH. MAHENDRA R. VITKAR, PUNE

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

147 of the Act vide order dt.23.12.2011 and the total income was determined at Rs.2,35,54,420/-. Aggrieved by the order of AO, assessee carried the matter before Ld.CIT(A), who vide order dt.03.09.2013 (in appeal No.PN/CIT(A)-II/ACIT Cir-4/299/2011- 12) dismissed the appeal of the assessee. Aggrieved by the order of Ld.CIT(A), assessee has raised

SMT . SUSHILABAI ISHWARDAS BAMB,,PUNE vs. INCOME-TAX OFFICER, WARD - 5(1),, PUNE

In the result, the appeal is dismissed

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury

term capital gain of Rs.34.57 lakhs by considering indexed cost of acquisition at Rs.17.41 as against the full value of consideration at Rs.17.76 crore. Cost of acquisition at Rs.17.41 crore was worked out by taking fair market value of the same property at Rs.700 per sq.mt. This led to the formation of reasons to believe by the AO that there